This testimony discusses (1) the state of the federal government’s approach to financial literacy, (2) observations on overall strategies for addressing financial literacy, and (3) the role GAO can play in addressing and raising awareness on this issue. This testimony is based largely on prior and
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In 2003, the Financial Literacy and Education Improvement Act created the Financial Literacy and Education Commission, which comprises 20 federal agencies and which the Department of the Treasury’s (Treasury) Office of Financial Education coordinates. Responding to a mandate in the act, GAO
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This testimony discusses the Social Security Administration's decision to suspend mailings of the Social Security statement in March 2011 and preparations to take the Statement online. GAO examined (1) the current status of the statement and (2) ways SSA plans to improve the usefulness of the
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